ECG reports GH¢2 billion losses in first nine months of 2023

The Electricity Company of Ghana (ECG) has reported an increase in its losses during the first nine months of 2023. As of September 2023, the company’s collection losses amounted to GH¢2,050,373,143.47. Collection losses represent income that remains unrealized due to factors such as non-payment, delinquency, or bad debts from tenants or customers.

This figure stands in contrast to the GH¢2,448,770,084.34 in losses recorded by the company in 2022. Dr. Matthew Opoku Prempeh, the Energy Minister, disclosed this information during an update on the country’s power situation in Accra on Thursday.

In terms of system losses, the ECG documented GH¢4,038,241,812.63 in losses as of September 2023, a notable increase compared to the GH¢2,599,695,242.10 recorded in 2022.

Mr. Prempeh also revealed that the company experienced technical losses amounting to GH¢1,279,369,021.42 in September 2023, down from GH¢2,758,872,792.21 in 2022.

When it comes to commercial losses, the Energy Minister stated that the ECG incurred GH¢2,758,872,791.21 in losses, which is higher than the GH¢1,852,597,985.96 recorded in 2022.